Manipal Health IPO
Healthcare • ₹9275.22 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- A substantial portion of the company’s revenue is generated from hospitals located in Karn…
- The company’s business is primarily dependent on inpatient care and hospital occupancy lev…
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹590
Lot Size
25 shares
Issue Size
₹9275.22 Cr
Open
29 Jul 2026
Close
31 Jul 2026
Subscription
4.90×
IPO Schedule
| Issue Open Date | 29 Jul 2026 |
| Issue Close Date | 31 Jul 2026 |
| Allotment Date | 03 Aug 2026 |
| Listing Date | 04 Aug 2026 |
About Manipal Health
Manipal Health Enterprises operates a pan-India network of multispecialty hospitals that provides healthcare services ranging from outpatient consultations to tertiary and quaternary care. As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and Union Territories. Its clinical services cover specialties, including cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics, renal sciences, and other medical disciplines. During the financial year 2026, the company served 7.63 million patients across its network and had 11,064 doctors associated with its hospitals. The company has a presence in both metro and non-metro locations, with hospitals in cities such as Bengaluru, Kolkata, and Pune, alongside facilities in other parts of India. As of March 31, 2026, 41 of its hospitals were accredited by the National Accreditation Board for Hospitals and Healthcare Providers (NABH), while 24 hospital laboratories were accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL). Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of its material subsidiaries, Manipal Hospitals Private Limited — Rs 5,552.76 Acquisition of minority stake in its stepdown subsidiary, Sahyadri Hospitals Private Limited — Rs 574 crore General corporate purposes.
Company Details
Founders / Promoters
Mr Dilip Jose
Founded
2010
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Manipal Health — IPOFins Verdict
QuantitativeDriven by QIB demand at 8.3x and moderate disclosed risk (6/10), Manipal Health listed at a premium of 10.5% to its issue price. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- The company claims to operate one of India’s largest private multispecialty hospital networks. As of March 31, 2026, it had 49 hospitals with 13,037 licensed beds across 14 states and Union Territorie
- The company claims to have advanced medical infrastructure and a broad range of specialized clinical capabilities. As of March 31, 2026, its network included 18 soft tissue robots, 23 orthopedic and s
- The company has received healthcare quality accreditations across a large part of its network. As of March 31, 2026, 41 of its 49 hospitals were accredited by the National Accreditation Board for Hosp
- The company has expanded its network through acquisitions while increasing its scale. Between March 31, 2024, and March 31, 2026, its network grew from 33 hospitals with 9,520 licensed beds to 49 hosp
- The company has reported growth in its financial performance over the last three financial years. Revenue from operations increased from Rs 6,171.63 crore in FY24 to Rs 8,242.25 crore in FY25 and Rs 1
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +1.0
Actual listing outcome → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹590
Listing Price
₹652
Listing Gain/Loss
+10.51%
Listing Date
04 Aug 2026
Price Since Listing
Returns are measured against the ₹590 issue price.
Listing
₹652
+10.5%
1 Week
₹701.45
+18.9%
1 Month
₹725.2
+22.9%
Current
₹718.45
+21.8%
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FAQ
What is the price band of Manipal Health IPO?
The price band is ₹590 per share with a lot size of 25 shares. Minimum investment: ₹14,750.
What does Manipal Health do?
Manipal Health Enterprises operates a pan-India network of multispecialty hospitals that provides healthcare services ranging from outpatient consultations to tertiary and quaternary care. As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and Union Territories. Its clinical services cover specialties, including cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics, renal sciences, and other medical disciplines. During the financial year 2026, the company served 7.63 million patients across its network and had 11,064 doctors associated with its hospitals. The company has a presence in both metro and non-metro locations, with hospitals in cities such as Bengaluru, Kolkata, and Pune, alongside facilities in other parts of India. As of March 31, 2026, 41 of its hospitals were accredited by the National Accreditation Board for Hospitals and Healthcare Providers (NABH), while 24 hospital laboratories were accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL). Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of its material subsidiaries, Manipal Hospitals Private Limited — Rs 5,552.76 Acquisition of minority stake in its stepdown subsidiary, Sahyadri Hospitals Private Limited — Rs 574 crore General corporate purposes.
Should I apply for Manipal Health IPO?
Manipal Health listed at ₹652 (+10.5% premium to the ₹590 issue price) after 4.9x subscription. IPOFins Score 6/10: Driven by QIB demand at 8.3x and moderate disclosed risk (6/10), Manipal Health listed at a premium of 10.5% to its issue price. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Manipal Health?
Manipal Health was founded by Mr Dilip Jose in 2010.